Kenya National Chamber of Commerce and Industry (KNCCI) has signed a memorandum of understanding with KCB Foundation geared towards support of micro, small and medium enterprises under the 2jiajiri programme.

According to the memorandum, KCB will leverage on the Chamber of Commerce’s wide network in all the 47 counties to achieve its target of empowering10,000 new and existing entrepreneurs annually across the country. The partnership will also see KCB and KNCCI overcome the barriers faced in the provision of training service on technical and business skills, access to finance and business assets as well as access to mentors and business networks.

Similarly, the Chamber of Commerce will conduct round table forums with the business community to expedite on job placements, on-job-training and industrial attachment for 2jiajiri beneficiaries within the respective counties. KNCCI will further conduct county level market trend analysis to inform 2jiajiri beneficiaries on emerging market for MSME growth and establish county based business information centers at the Huduma Centers.

“This MoU will help tackle the problem of unemployment faced by our youth around the country by enabling businesses expand through the financial and technical support from Kenya Commercial Bank foundation,” Kenya National Chamber of Commerce and Industry National Chairman Kiprono Kittony said during the signing ceremony.

The Chamber of Commerce will also advocate for the issuance of discounted single business permits to 2jiajiri startups through partnership with county governments and facilitate the participation of the startups in local and overseas trade missions in a bid to enhance business opportunities.

“We will also facilitate the issuance of the Certificate of Origin which falls under the chamber for the 2jiajiri beneficiaries as part of KNCCI support to enhance access to export markets,” Kenya National Chamber of Commerce and Industry CEO Angela Ndambuki said.

The programme will be run in three phases including skills training, incubation for business start-ups and linkages to commercial products and services.

Under skills training phase, KCB foundation will provide technical staff who will offer business incubation and business development support services for participants trained in technical and vocational skills as well provide the beneficiaries with guidance on the loan application process and monitor their loan payments. “We are targeting 50,000 businesses in the next 5 years those hiring between five to ten people and we believe the chambers large network will help us achieve this goal,” said KCB Group MD and CEO Joshua Oigara.

“We will also provide business incubation and business development services to participants trained in technical and vocational skills as well as provide access to discounted loans to those who meet the programme’s requirements,” says KCB foundation executive director Jane Mwangi.

Speaking at the same event Deputy President William Ruto lauded the partnership and called on the Chamber of Commerce and KCB to work towards the formalization of SMEs as a way of dealing with the huge unemployment gap that exists in the country.

“The Kenya National Chamber of Commerce & Industry can play a big role in formalizing the informal sector given the fact that MSME are the biggest employers and engine of growth for the Kenyan economy,” said the Deputy President.